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The first step to optimizing your travel expenses in Singapore is to understand the nuances of the Citi PremierMiles Card Singapore.
The choice of a credit card goes beyond interest rates. It focuses on the tangible benefits it offers to your routine and, especially, to your travels.
Understanding the differences between the Mastercard and Visa variants of the Citi PremierMiles Card Singapore is essential. After all, each offers a slightly distinct fee and rewards structure, directly influencing the speed with which you reach your next destination.
In this article, we will present an objective and detailed analysis of the characteristics, eligibility, and advantages of both versions. We will cover everything about the Citi PremierMiles Card Singapore. This way, you will have all the necessary information to make an informed and strategic decision.
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Understanding the Two Versions of the Citi PremierMiles Card Singapore
Citibank offers the Citi PremierMiles Card in the Singapore market in two versions, each operating under a distinct global flag. Let’s look at the differences between them.
Citi PremierMiles Mastercard
The Citi PremierMiles Card Singapore Mastercard represents the most recent version and is the focus of new approvals. Its annual fee is fixed at 196.20, a value that already includes the Goods and Services Tax (GST).
It is important to note that there is no first-year waiver. A relevant advantage is that supplementary cards associated with the main account are issued free of charge.
This version has a more competitive foreign currency accumulation rate, as we will detail further on.
The effective interest rate applied to this variant is 27.9% per annum. With a grace period of 21 days for new purchases.
The minimum payment required by the bank is 1% of the total balance due, respecting a minimum of S$50. It is important to mention that the cost for additional cards, after the initial free supplementary cards offered to the holder, is S$97.20 annually. Applied fees include a late payment penalty of S$100.
Citi PremierMiles Visa Card
The Visa variant is the older version of the Citi PremierMiles Card Singapore. Although Citibank currently directs new approvals to the Mastercard. The Visa card remains valid and functional for those who already hold it. The main annual fee for this version is lower, costing S$192.60 (with GST).
According to Seedly, the card waives its annual fee for the first two years, which makes this its key differentiating feature.
Furthermore, the Visa version also allows for the issuance of free supplementary cards. The annual interest rate on this variant is slightly lower, at 26.9%, and the grace period is longer, at 25 days.
Miles Program, Bonus, and Redemption
One of the strongest features of the Citi PremierMiles Card Singapore miles program is that the accumulated Citi Miles do not expire.
Accumulation on general spending is standardized for both variants on local purchases, generating 1.2 Citi Miles for every S$1 spent.
The card offers significant bonus opportunities on specific travel portals.
For hotel reservations made through Kaligo.com, it is possible to accumulate up to 10 Citi Miles per S$1 spent, an exceptionally high rate.
Another interesting advantage is the renewal bonus.
Annually, on each card anniversary, upon payment of the annual fee, the cardholder receives an additional 10,000 Citi Miles. This helps offset the cost of the annual fee and encourages long-term card maintenance.
Requirements you must meet to get this credit card
Before seeking the Citi PremierMiles Card Singapore, you need to meet basic eligibility criteria that are common to both versions.
Citibank requires the minimum age to be 21 years old.
Regarding income, there is a clear distinction between residents and non-residents.
For Singaporeans or Permanent Residents (PR), the minimum annual income required is S$30,000. For foreigners, this requirement is higher, fixed at S$42,000 annually.
The application process requires the presentation of supporting documents that vary according to the applicant’s employment and residence status, ensuring that the bank can assess the interested party’s credit capacity.
- Salaried Employee: must provide a copy of the NRIC/passport, accompanied by the most recent payslip or the Notice of Assessment of Tax.
- Self-Employed Worker: In this case, it is necessary to present a copy of the NRIC/passport and the Notices of Assessment of Tax referring to the last two fiscal years.
- Foreigner: Foreign applicants need to present a copy of the passport, a valid work permit for at least six months. In addition to proof of address, such as a utility bill or bank statement, and the Notice of Assessment of Tax or payslip.
Step-by-Step to Apply for the Citi PremierMiles Card Singapore
The application for the Citi PremierMiles Card Singapore can be conveniently done online on the Citibank website, with a process that aims for efficiency.
- Eligibility Verification: The first step is to confirm that you are at least 21 years old and that your annual income meets the limits of S$30,000 for Singaporeans/PR or S$42,000 for foreigners.
- Variant Choice: For new applications, approval is automatically done for the Mastercard version. But old Visa version customers can keep their card or request migration if they wish.
- Document Separation: Send all documentation listed above, according to your employment and residence situation, to speed up the analysis.
- Online Application: on the Citibank website can be completed in less than 10 minutes. The use of SingPass, authorizing the Myinfo service, is recommended, allowing for automatic form filling and may waive the need to provide additional paper documents.
- Approval and Reception: After the application, the approval process usually takes a few days. Once the card is in hand, register it on the Citi Mobile® App. The application is essential for tracking expenses, managing block/unblock functions, and checking the balance of accumulated miles, maintaining total account control.
Conclusion
The Citi PremierMiles Card Singapore establishes itself as a prominent option for the traveler in Singapore.
Offering a robust combination of non-expiring miles, lounge access, and travel insurance up to S$1 million.
The two variants, Mastercard and Visa, offer distinct advantages: the Mastercard attracts with a higher sign-up bonus and superior international mileage rate of 2.2 mpd.
While the Visa offers an annual fee waiver for the first two years. Both share the accelerated accumulation value with partners like Kaligo and Agoda.
Analyze your miles strategy, check the income requirements (S$30,000 for Singaporeans/PR or S$42,000 for foreigners), and start your online application on the Citibank website.
Did this card not catch your attention? Then check out other options among the main Singapore best miles card.